We Failed to Stop the Student Debt Crisis. Let’s Prevent the Next One.

Real Clear Education 

Ethan Pollock & Erica Cuevas
March 17, 2023
The Supreme Court recently heard arguments in two cases that could scuttle the Biden administration’s student debt relief plan. If the plan survives, it could be a potentially life-changing financial reprieve for more than 40 million eligible Americans.
But no matter what the Court decides, students, families, and taxpayers might soon find themselves in a similar dire situation. The Committee for a Responsible Federal Budget estimates that even if everyone eligible under the Biden administration’s plan receives debt cancellation, the balance of outstanding federal student loans will return to its current amount—an astounding $1.6 trillion—by 2028.

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